Teen Sentenced for Laundering Crypto Millions

A 22‑year‑old from California has been handed a 70‑month federal prison term for moving stolen cryptocurrency worth over $263 million. The young man, whose name is Evan Tangeman, also faces three years of supervised release after pleading guilty to a RICO conspiracy. The case shows how quickly online friendships can turn into large‑scale theft when combined with digital money. Tangeman admitted that he laundered at least $3. 5 million for the group, which operated from October 2023 to May 2025. The criminals began as friends on gaming sites before expanding into a multi‑state scheme. His confession was the ninth guilty plea in this investigation, highlighting how many people were involved.When authorities raided his home, they found luxury cars such as a 2022 Rolls‑Royce Ghost and a Porsche GT3 RS. The stolen crypto was used to buy high‑end items: club tickets, sports cars, and watches. The group also bought homes worth between $4 million and nearly $9 million in Los Angeles and Miami, paying hefty monthly rents. Beyond laundering money, Tangeman tried to destroy evidence after his partners were arrested. This effort to cover up the crime was cited as a factor in the judge’s decision. The case is part of a broader federal push against crypto‑based financial crimes, following eight other guilty pleas in the same scheme. The sentencing reflects how seriously courts treat attempts to hide wrongdoing, especially when digital assets are involved. It also serves as a warning that the virtual world can hide real‑world consequences.